BlackRock Chief Executive Larry Fink said on Thursday that the firm was unfairly targeted by candidates in the fourth Republican presidential debate, calling it a "sad commentary on the state of American politics." BlackRock, the world's largest asset manager, has faced a backlash from state pension plans in Republican-led Florida, Louisiana and Missouri for the firm's ESG policies, which filter possible investments based on environmental, social, and governance screens. Florida Governor Ron DeSantis criticized the firm in Wednesday's debate for using its "economic power" to instill a "left wing agenda."
Vivek Ramaswamy and Ron DeSantis attacked US asset manager in effort to bolster ‘anti-woke’ credentials
Discussions between the U.S. securities regulator and asset managers hoping to list bitcoin exchange-traded funds (ETFs) have advanced to key technical details, in a sign the agency may soon approve the products, industry executives said. Thirteen firms including Grayscale Investments, BlackRock, Invesco, and ARK Investments, have pending applications with the Securities and Exchange Commission (SEC) for ETFs that track the price of bitcoin. But after a court in August ruled the SEC was wrong to reject Grayscale's application to convert its bitcoin trust into an ETF, the SEC has been engaging with issuers on substantive details, some of which are usually discussed near the end of an ETF application process, according to half a dozen industry executives and SEC public memos.